The "Direct Injection 302" is actually the famous PROCO engine from the late 70's. PROCO stands for PROgrammed COmbustion, and it was going to be Ford's future.
The description has a few things wrong, in that it did have a distributor (BIG with 16 pins for the twin spark plugs!!) They ran well, but then Ford realized that they could get all of the same benefits by adding an overdrive gear to their automatic transmissions, so the multi-billion dollar project was scrapped. The engines were pretty much tooled for production at that point. A few examples survive though.
An example of the Calliope 427 was sitting in the lobby of the Dyno building when I worked there, complete with a brace of original 58mm Webers on top! Somebody finally must have realized how valuable that engine was, because it's been freshened up and only appears at shows from time to time.